Correlation Between Kangyue Technology and Cultural Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kangyue Technology Co and Cultural Investment Holdings, you can compare the effects of market volatilities on Kangyue Technology and Cultural Investment and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Kangyue Technology with a short position of Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kangyue Technology and Cultural Investment.
Diversification Opportunities for Kangyue Technology and Cultural Investment
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kangyue and Cultural is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Kangyue Technology Co and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment and Kangyue Technology is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Kangyue Technology Co are associated (or correlated) with Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Kangyue Technology i.e., Kangyue Technology and Cultural Investment go up and down completely randomly.
Pair Corralation between Kangyue Technology and Cultural Investment
Assuming the 90 days trading horizon Kangyue Technology Co is expected to generate 2.21 times more return on investment than Cultural Investment. However, Kangyue Technology is 2.21 times more volatile than Cultural Investment Holdings. It trades about 0.15 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.2 per unit of risk. If you would invest 494.00 in Kangyue Technology Co on September 13, 2024 and sell it today you would earn a total of 195.00 from holding Kangyue Technology Co or generate 39.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kangyue Technology Co vs. Cultural Investment Holdings
Performance |
| Timeline |
| Kangyue Technology |
| Cultural Investment |
Kangyue Technology and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kangyue Technology and Cultural Investment
The main advantage of trading using opposite Kangyue Technology and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kangyue Technology position performs unexpectedly, Cultural Investment can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Kangyue Technology vs. Cultural Investment Holdings | Kangyue Technology vs. Gome Telecom Equipment | Kangyue Technology vs. Holitech Technology Co | Kangyue Technology vs. Zotye Automobile Co |
| Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. China Construction Bank | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. Bank of China |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |